Tuesday, February 07, 2006

LoveSac Files for Bankruptcy Protection

LoveSac Files for Bankruptcy Protection

SALT LAKE CITY (AP) -- The Salt Lake City-based bean bag company LoveSac is filing for bankruptcy.

The company's owner Shawn Nelson has filed for Chapter Eleven bankruptcy to seek protection from creditors.

Just a year ago, he was on top of the world when he won one (M)million dollars on the reality television show "Rebel Billionaire." He beat out 16 other contestants.

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